My24 Hour Income Review
There has been a lot of hype about My24 Hour Income program lately, especially on social media networks. As of August this year (2016), the company had managed to sign up about 15,000 members.
Before joining this business opportunity it is important that you read this review. This is an unbiased review from someone who is not associated with this business in any way. Read on to find out if My24 Hour Income is legit or scam.
My24 Hour Income Review – The Company
My24 Hour Income is a Revenue Sharing (RevShare) company that was launched on July this year by Drew Burton and Faheem Rajput. The company targets advertising websites that shares 100 percent of its revenue from selling advertisement products to its members.
The main reason for the existence of this company is to offer several sources of withdrawal-able daily income for their members through providing quality advertising at an affordable price.
The company doesn’t disclose enough information about Drew Burton and Faheem Rajput. One of the founders (Drew Burton) of My24 Hour Income was wrapped up with businesses like My Paying Ads, Zukul Ad Network, Click Delivery and Fort Ad Pays.
Unfortunately, all of these companies turned out to be some type of Ponzi schemes, and with a past like that, it will not be a surprise if My24 Hour Income turned out to be the same.
For example, if you take a look at Ford Ad Pays, you will discover that the company collapsed on May this year. On May 23rd 2016, Drew posted on his Facebook account that he had a great 305,760 investment positions within the business, which would later translate to a total earnings of $305,760.
Even after the collapse of Fort Ad Pays, Drew continued to search for more investors and ask for more money. One month after the collapse of Fort Ad Pays, Drew went to his Facebook account and said “Today is a big day…..I did it guys Maxed out F.A.P in just six months….”
At that point in time, Fort Ad Pays affiliates had lost $149,105 and Drew was the man behind the disappearance of this money. It is not clear about the amount of money that he was actually able to withdraw and use for his own personal interest, but it’s still believed to be a huge amount.
Two months later after the collapse of Fort Ad Pays, Drew joined Faheem Rajput and together they created and launched My24 Hour Income in July of this year.
There is no much information about Faheem Rajput, but he is believed to reside in Pakistan and is presently working hard to promote the company ZF Share, another Ponzi scheme that promises to pay its members a ROI of 135%.
My24 Hour Income – The Products
Many of the MLM business opportunities that are being launched lately don’t have any sort of product line in their business, and My24 Hour Income is no exception.
Since there are no products or services that My24 Hour Income sells to retail customers, the only way that the company earns money is through membership subscription. Due to the lack of the product line and the past network marketing history of Drew Burton and Faheem Rajput, it is easy for someone to conclude that My24 Hour Income is just a Ponzi scheme.
My24 Hour Income – The Compensation Plan
The money that affiliates expect to earn from My24 Hour Income comes from their own investments.
The main idea here is to purchase one or more Advertising packages (Ad Packs) and after a period of time, you will earn a return on your investment (ROI) according to each pack. The Ad Packs ranges from $5 to $75, and the ROIs plan ranges from 110% to 130%.
The amount of money that affiliates earn depends solely on how much money you decide to invest into the company and the type of Ad Pack that you purchase. In general, there are four Ad Packs available for you to invest in, and they are as follows:
Ad Pack 1– Costs $5 and pays out 110% ROI. You must buy 100 of these to progress
Ad Pack 2– Costs $15 and pays out 115% ROI. You must buy 100 of these to progress
Ad Pack 3– Costs $35 and pays out 120% ROI. You must buy 200 of these to progress
Ad Pack 4– Costs $75 and pays out 130% ROI
In general, My 24 Hour Income affiliates earn about 3.8% ROI every single day. For you to qualify to earn these ROIs, you must view at least eight (8) advertisements that the company offers every single day.
Apart from the direct ROIs, My 24 Hour Income affiliates can also make money through referral commissions. The company uses unilevel compensation structure to pay out referral commissions to its affiliates. Level one affiliate earns 8% and level two and level three affiliates earn only 2%.
Cost To Join My 24 Hour Income
If you are thinking about joining this company and become an affiliate, then you should know that the membership fee is linked to an investment of at least five dollars ($5), but this amount can go up to $75. This means that the more you investment into the company the more money you will earn.
Is My 24 Hour Income Scam?
My 24 Hour Income is not a complete scam but it appears to be a Ponzi scheme. The company depends on the money that it receives from the purchase of Ad Packs by members. This means that if the clients stop purchasing Ad Packs for whatever reason, the company can collapse.
Also, the owner(s) can decide to walk away with the investor’s money and close the company indefinitely. The only way to succeed in this type of business is to have strong marketing skills and know the downsides of the business.
In general, My 24 Hour Income affiliates make money by investing money into the business. You can invest up to $75 and expect to earn a 130% return on your investment. Unfortunately, the company has no any sort of product line to offer.
They depend solely on new investments to pay off existing ROIs. It is also wise to note that the company doesn’t offer refunds. If you are planning to become an affiliate of My 24 Hour Income, make sure that you take some time to develop a marketing strategy.
Personally I would stay well away from this type of company. The people in charge and the whole set up has been done many times before and has proven not to work over long periods of time.
I hope you enjoyed my “My24 Hour Income Review” post. If you would like to know what I fully endorse and presently promote myself then read on….
Ok So This Company Is A Dud….What Are You Involved In Manny?
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